Lower-income hit hardest by Covid-19, as better off still buying stocks, homes, cars
Economists see 'K-shaped' recovery with tech, financial services charging ahead; hospitality, aviation limping behind
Singapore
COVID-19 has handed Singapore its deepest recession since the country's independence, but the pain inflicted by the pandemic has been unevenly spread.
Economists have dubbed the crisis as one primed for a "K-shaped" recovery, one where different parts of the economy recover at different rates, different times or different magnitudes. Thus in Singapore, lower-income workers have been hit hard particularly by retrenchments, but there are also others with cash to spare and secure jobs to hang on to.
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